Vat audit

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manisha

manisha (Querist)
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18 April 2013 what are the requisites for vat audit, at what time the client get falls under vat audit

CA Ankit Oberoi

CA Ankit Oberoi (Expert)
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18 April 2013 Correctness of self-assessment will be checked through a system of departmental audit. A certain percentage of the dealers will be taken up for audit every year on a scientific basis. If however, evasion is detected on audit, the concerned dealer may be taken up for audit for previous periods. This audit wing will remain delinked from tax collection wing to remove any bias. The audit team will conduct his work in a time bound manner and audit will be completed in a stipulated time.